Q2 2022: Aggressive Central Bank Policy and Inflation Roil Bond Markets
The second quarter of 2022 saw a marked drop in fortunes as 95% of all dollar bonds in our universe delivered a negative price return ex-coupon. This was following a similarly dismal Q1, when geopolitical risks and rising inflation pushed bond prices lower. Moving...
The Week That Was (27 June – 03 July, 2022)
US primary market issuances stood at $6.1bn vs. $10.4bn in the week prior. IG issuances were at $4.7bn vs. $10.4bn in the week prior led by Toyota Motors’ $2.75bn three-trancher, followed by Northwestern Mutual that raised $600mn. HY issuances were at $450mn vs....
Cuscaden to Own 61.7% of SPH REIT as Offer Concludes
Singapore-based investment holding company Cuscaden Peak has upped its stake in SPH REIT to 61.7% after the former received 402.9mn units as part of its chain offer, as per an exchange filing. In April, the Cuscaden consortium consisting of Hotel Properties,...
India’s NIIF Invests $300mn in DP World Subsidiary
Indian sovereign wealth fund National Investment and Infrastructure Fund (NIIF) has invested INR 22.50bn ($300mn), a 22.5% stake, in Hindustan Ports Pvt Ltd (HPPL) which subsidiary of Gulf logistic major DP World (DPW). Till date, NIIF has invested ~$500mn in...
